Investment

Absa Bank Gives Ksh 15 Million To Magical Kenya Ladies Open Investment

BY Soko Directory Team · February 5, 2024 09:02 am

Absa Bank Kenya PLC has announced a KES15 million investment for the upcoming Magical Kenya Ladies Open (MKLO) Golf Tournament, taking its position as the tournament’s official banking partner.

As part of this investment, KES10 million will go directly towards the organization of the tournament, while KES5 million will be utilized for various media and experiential activities to create memorable moments for those attending and following the tournament. With this sponsorship, Absa Bank has reaffirmed its dedication to promoting national development through sports tourism and women empowerment.

The Magical Kenya Ladies Open provides a platform for talented female golfers from around the world to showcase their skills and compete against each other at Vipingo Ridge, one of the most scenic golf courses on the continent. Set to take place from February 8 to 11, MKLO is the first leg in a series of 31 tournaments in 20 different countries that form part of the Ladies European Tour 2024 calendar.

While announcing the sponsorship, Absa Bank Kenya’s Consumer Banking Director, Moses Muthui, said: “We are delighted to play a significant role in Magical Kenya Ladies Open, which presents a unique opportunity for us to tell the stories of determination and resilience by the lady golfers, both locally and globally, while also extending our rich golfing heritage in Kenya.”

He added: “Over the years, golf has not only put Kenya on the global map as a hub for sports tourism but has also fostered the growth of local talent. Building on this success story, we fully appreciate the tremendous opportunities that the Magical Kenya Ladies Open presents, both for nurturing local talent and for stimulating enterprise. We are excited to embark on this journey, where sports tourism and women empowerment go hand in hand.”

As a bank that values inclusivity and empowerment, the MKLO stands as a catalyst for creating a more diverse, accessible, and inclusive stage for women’s golf in the region. In addition, and recognition of the challenging economic environment, the influx of spectators and visitors also contributes to increased business activity among local enterprises, enhancing Kilifi County’s economic prospects.

“We are committed to driving positive societal change by investing in women. As a financial partner, and a force for good, our purpose of Empowering Africa’s tomorrow, together … one story at a time, aligns perfectly with the opportunities presented by the MKLO to inspire experienced and aspiring female golfers while impacting the communities through meaningful collaborations,’’ said Mr. Muthui.

On his part, Mr. Dirk Glittenberg, the Managing Director, U.COM Media, the tournament organizers said: “We at U.COM Events are extremely delighted to partner with Absa, an amazing brand in the financial world. We look forward to growing women’s golf in Kenya and East Africa working with an experienced sponsor and Absa has a lot of experience in the golfing world.”

The tournament has attracted top golfers, including German Alexandra Försterling who won the 2023 VP Bank Swiss Ladies Open and the 2023 Mallorca Ladies Open, the 2023 Amundi German Masters champion Kristýna Napoleaová from the Czech Republic, 2023 MKLO runner-up Alice Hewson from England, third-place finisher April Angurasaranee from Thailand and last year’s hole-in-one sensation, Swedish Lisa Pettersson.

Five Kenyan amateur golfers have been confirmed for the tournament. The quintet, comprising Naomi Wafula, Mercy Nyanchama, Channelle Wangari, Jacqueline Walter, and Kellie Gachaga will compete amongst a field of 108 participants from around the world in the only women’s professional golf tournament in East Africa.

About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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